68 Pennsylvania Consolidated Statutes Chapter 42 - Creation, Alteration And Termination Of Cooperatives

• Chapter Notes
• Section 4201 - Creation Of Cooperative Ownership
  (a) General rule.--A cooperative may be created pursuant to this subpart only by either of the following: (1) Recording a declaration executed in the...
• Section 4202 - Unit Boundaries
  Except as provided by the declaration: (1) If walls, floors or ceilings are designated as boundaries of a unit, all lath, furring, wallboard, plasterboard,...
• Section 4203 - Construction And Validity Of Declaration And Bylaws
  (a) Provisions severable.--All provisions of the declaration and bylaws are severable. (b) Application of rule against perpetuities.--The rule against perpetuities may not be applied...
• Section 4204 - Description Of Units
  A description of a unit which sets forth the name of the cooperative, the recording data for the declaration, the county or counties in...
• Section 4205 - Contents Of Declaration
  (a) General rule.--The declaration for a cooperative must contain: (1) The name of the cooperative, which must include the word "cooperative" or be followed...
• Section 4206 - Leasehold Cooperatives
  (a) Recording lease and contents of declaration.--Any lease the expiration or termination of which may terminate the cooperative or reduce its size shall be...
• Section 4207 - Allocation Of Ownership Interests, Votes And Common Expense Liabilities
  (a) General rule.--The declaration shall allocate an ownership interest in the association and a portion of the votes in the association to each cooperative...
• Section 4208 - Limited Common Elements
  (a) Allocation.--Except for the limited common elements described in section 4202(2) and (4) (relating to unit boundaries), the declaration shall specify to which unit...
• Section 4209 - Exercise Of Development Rights
  (a) General rule.--To exercise any development right reserved under section 4205(a)(8) (relating to contents of declaration), the declarant shall prepare, execute and record an...
• Section 4210 - Alterations Of Units
  Subject to the provisions of the declaration, section 4321(c) (relating to limited equity cooperatives) and other provisions of law, a proprietary lessee: (1) May...
• Section 4211 - Relocation Of Boundaries Between Adjoining Units
  (a) General rule.--Subject to the provisions of the declaration and other provisions of law, the boundaries between adjoining units may be reallocated by an...
• Section 4212 - Subdivision Of Units
  (a) General rule.--Subject to the provisions of the declaration and other provisions of law, a unit may be subdivided into two or more units...
• Section 4213 - Easement For Encroachments
  To the extent that any unit or common element encroaches on any other unit or common element, a valid easement for the encroachment exists....
• Section 4214 - Declarant's Office, Models And Signs
  A declarant may maintain sales or rental offices, management offices and models in units or on common elements otherwise restricted to residential use only...
• Section 4215 - Easement Rights
  Subject to the provisions of the declaration, a declarant has an easement through the common elements as may be reasonably necessary for the purpose...
• Section 4216 - Amendment Of Declaration
  (a) Number of votes required.--Except in cases of amendments that may be executed by a declarant under section 4209 (relating to exercise of development...
• Section 4217 - Termination Of Cooperative Ownership
  (a) Number of votes required.--Except: (1) in the case of the taking of all of the units by eminent domain (section 4107); (2) in...
• Section 4218 - Rights Of Secured Lenders And Secured Creditors
  (a) Secured lender approval.--The declaration may provide that all or a specified number or percentage of secured creditors of the association or lenders holding...
• Section 4219 - Master Associations
  (a) General rule.--If the declaration provides that any of the powers described in section 4302 (relating to powers of association) are to be exercised...
• Section 4220 - Merger Or Consolidation Of Cooperatives
  (a) General rule.--Any two or more cooperatives, by agreement of the proprietary lessees as provided in subsection (b), may be merged or consolidated into...
• Section 4221 - Method For Transferring A Cooperative Interest
  (a) General rule.--In order to effectuate the transfer of a cooperative interest, the transferor, the transferee and the association shall execute an instrument which...

Last modified: October 8, 2016